right of redemption

(redirected from Redemption Right)

Right of redemption

The right to recover property that has been attached by paying off the debt .

Right of Redemption

In foreclosure or repossession, the right of a borrower to receive back the stated property before it is re-sold (and sometimes after it is re-sold) in exchange for repaying the debt guaranteed by the property that was foreclosed or repossessed. The length of time one has the right of redemption varies, but it can be for up to one year.

right of redemption

The statutory right to redeem property either after it has been set for foreclosure or sometimes after the foreclosure itself. Postforeclosure redemption rights typically belong to the borrower,to any other persons with interests in the property,and to creditors of the borrower.It gives such persons the right to buy the property from the foreclosure purchaser,even if the purchaser was the lender, for the foreclosure price plus accrued interest at a statutorily set rate.The right of redemption may extend as long as one year in some states.

References in periodicals archive ?
If the Amendments are approved, the Debentureholders will receive value in terms of optionality, leverage, and cash, including the partial redemption right, continued bi-annual interest payments at an attractive rate, and a consent fee for those Debentureholders that vote in favor of the Amendments.
NYSE MKT: BTX), has filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of up to $15,000,000 of units with each unit consisting of one share of Series B common stock and one redemption right.
NYSE MKT: BTX), has filed a registration statement with the Securities and Exchange Commission for an underwritten public offering of up to S15,000,000 of units with each unit consisting of one share of Series B common stock and one redemption right.
JDSU (NASDAQ: JDSU) (TSX: JDU) reported that according to the terms of the Indenture governing its 1% senior convertible notes due 2026, certain holders of the notes have surrendered their notes for purchase by JDSU, exercising their redemption right under the Indenture.
According to the court, the redemption right does not create "an existing, unconditional, and legally enforceable obligation for the payment.
iPath ETNs generally have a daily redemption right and investors can trade them on an exchange at market prices.
If the bank does not exercise its redemption right, the coupon rate for the remaining five years of the term will be three percent higher than the original, it said.
Separately, the company said it is exercising its optional redemption right to call in all the outstanding high yield bonds on March 17, saying it will significantly reduce its future finance charges.
Each shareholder is to receive one (1) redemption right per share held (regardless of series of share) and three (3) redemption rights entitle the shareholder to request redemption of one (1) share (regardless of series of share) in the Company.
Now, the city of JyvAaAaAeAnskylAaAaAeAn has wa its redemption right and the closing of the transaction took place on 30 November 2017.
It first argued that it was the parties' intent that the payments be treated as interest and that the redemption right itself created a debt.
The bond issue structure allows the issuer to grant investors a put option and/or retain a redemption right.